Techno-Economic Comparison of On Grid and Off Grid Hybrid WT / Solar Photo Voltaic Connected Power Generating Unit Using HOMER

This paper focuses on the economical feasibility of grid connected hybrid(PV/Wind turbine) power system for rural area application in India, Madhya Pradesh Satna District $(24^{\circ}34$' 46.9776'' N and $80^{\circ}49$' 55.8336'' E).The Hybrid PV/Wind power system which is the best renewable system has been chosen due to its complementary nature. The investigation was carried out by studying the potential of wind and solar energy and collecting data from different sources. Hybrid Optimization Model for Electrical Renewable (HOMER) software is used to design the system for giving an optimized result of the available data. A comparative analysis was performed by designing an off grid and on grid Hybrid system for the same location. A sensitivity analysis was also carried out to get a better understanding of which model is best suited from both efficiency and economy point of view. Generation and storage units for each system where properly sized in order to meet the yearly load and minimize the total annual cost to the customer. Simulation results indicates the feasibility and improved functionality of the system which makes it most cost effective for the proposed region.